HTC's One Mini to launch globally in September

The smartphone will have a 4.3-inch screen and 1.7GHz dual-core processor

HTC has finally unveiled its much-rumored "HTC One Mini" smartphone, and will bring the compact version of its flagship smartphone to select markets as soon as August. "The HTC One is one of the most successful products the company had in its history," said Nicole Peng, an analyst with research firm Canalys. "And having a more affordable version of this product will help getting it to more consumers who are fond of the design of the HTC One."

The new smartphone boasts a similar design as the HTC One, but has slightly lower hardware specs. The Mini has a smaller 4.3-inch display, with a screen resolution of 720p instead of 1080p. The smartphone's processor is also slower, packing a dual-core 1.4GHz processor instead of the quad-core 1.7GHz chip found in the HTC One.

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Pictures of the Mini also showed it having larger borders on its edges. It uses the same "UltraPixel" camera and HTC Sense user interface as the HTC One. Color options are silver or black. HTC declined to provide further details on the device and its pricing, but it will be available globally in September.

HTC unveiled the new smartphone after Samsung also announced a smaller version of its flagship Galaxy S4 at the end of May. The Galaxy S 4 Mini also has a 4.3-inch screen and a 1.7GHz dual-core processor and is already available in certain markets.

The Taiwanese smartphone maker's previous phone, the HTC One, garnered positive reviews when it was launched earlier this year. But the company has still struggled to lift its earnings. In the second quarter, HTC's net profit was down 83 percent year-over-year.